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Bank of Russia to hold online conference Post-Coronavirus Economy and Challenges to Central Bank Policies

2 декабря 2020 года

The conference will take place on 9–10 December and will be broadcast and accessible publicly, as well as on the Bank of Russia’s YouTube channel and Facebook page.

The representatives of the Bank of Russia, foreign regulators, international organisations, and experts will discuss the long-lasting effects of the pandemic, including implications for monetary policies, the efficiency of the transmission mechanism, shifts in the labour market and consumer preferences, and the risks of a market overheating or a problem of zombie companies in the sectors extensively supported by governments.

Elvira Nabiullina, Bank of Russia Governor: ‘The pandemic is affecting the potential and structure of the economy, but at the moment nobody is capable to precisely predict a new point of equilibrium these changes will lead us to. Digitisation and remote work, alterations in consumer preferences, and continuing anti-pandemic restrictions will further influence the labour market, the markets of individual goods, and economic trends in general. How deeply should these shifts be taken into account in central bank policies? What challenges are arising in emerging market economies due to global changes? All these issues will be discussed in the course of our conference.’

The event will be attended by Bank of Russia Governor Elvira Nabiullina, Croatian National Bank Governor Boris Vujčić, Banco de Mexico Governor Alejandro Díaz de León, Russian Accounts Chamber Chairman Alexey Kudrin, the representatives of the IMF, the Bank for International Settlements, Russia’s Ministry of Finance and Ministry of Economic Development, and Russian and foreign experts.